An agreement between Sri Lanka and the World Bank
An agreement is to be reached between Sri Lanka and the World Bank to provide the necessary funds for the budget.
Under that agreement, Sri Lanka will receive 500 million dollars from the World Bank.
Cabinet approval is required to obtain the relevant funds.
This is the biggest financial support the country has received since the extended credit facility of $2.9 million agreed to be given to Sri Lanka by the International Monetary Fund last March.
Last week, the international media reported that the World Bank has approved a loan of 700 million dollars to Sri Lanka.
Accordingly, the remaining $200 million is expected to be provided for the social security program.